INDIAN BENCHMARKS ended higher with heavyweights.
INDIAN EQUITY BENCHMARKS ended higher with heavyweights and select rate-sensitive shares leading the gains after liquidity measures announced by the central bank would help boost lending. The Reserve Bank of India late on Monday further eased liquidity by cutting the marginal standing facility (MSF) rate, a key overnight interest rate, by 50 basis points to 9%.
Further, IT and Metal index which closed in the red, down 0.87% and 0.3% respectively, all the other indices closed in the positive territory. From the banking space, ICICI Bank ended higher by 2.3%. However, HDFC Bank, SBI and HDFC ended lower paring the intra-day gains amid profit taking at higher levels.
The crucial resistance for Nifty is now seen at 5975 and above this 6025. Support for the immediate term is now placed at 5925 and next support will be 5855.
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